Neil Shearing, Chief Economist at Capital Economics, stated in a report to investors that Washington’s tough intervention in Venezuela may accelerate shifts in the geopolitical landscape, but its immediate impact on the macroeconomy remains limited. Shearing noted that even if a more U.S.-friendly government were to emerge in Caracas and increase crude oil production, the impact on global market supply would be negligible. “In short, we do not believe that last weekend’s events will substantially alter the global oil market or, consequently, the global economic outlook.”